A little update on what I have been up to and what happens now...

You may have noticed that things have been a little quiet on APEsphere these last couple of months. I am now able to explain why.

It has long been my view that the global financial crisis is the single biggest responsible business issue of the decade. Yes, even bigger than climate change, because thanks to the global financial crisis efforts to address climate change have been badly set back.

While regulatory reform - specifically a reversal of the deregulatory fervor fo the last thirty years - is clearly needed, what strikes me is the way we talk about the crisis in such abstract terms. It is so standard to talk about what the markets did, or even "the banks", and to talk in aggregate terms about unemployment, foreclosure, bankruptcy.

Of course, those statistics are always worth repeating:

• an increase in the number of people around the world in chronic hunger and poverty by over 100 million, to 1.02 billion;
• between 200,000 and 400,000 more babies could die each year between now and 2015 if the crisis persists;
• an increase in global unemployment by between 29 million and 59 million people;
• one in eight US mortgage borrowers is behind on mortgage payments or facing foreclosure at the end of the second quarter 2009;
• pensioners relying on developed country stock market returns for their retirement incomes have seen their savings fall by 45%.

Not to mention the fact that the crisis is associated with a sharp uptick in mental health problems and suicide rates, children being pulled out of schools and put to work, increases in human trafficking, social unrest and violent conflict.

But all this talk of aggregates repeats part of the problem that got us into this mess in the first place. Aggregates create emotional distance. They enable us to forget that the crisis both impacts and was brought about by individuals.

So Kelsey Timmerman and I are about to set out on a journey to tell some of the personal stories behind the numbers - our very own Financial Crisis Inquiry Commission. Our blog, NOTHING P€R$ONAL, will be the main means by which we keep readers updated on our travels, though I will also post some of those stories here on APEsphere.

Kelsey has penned the first post here, explaining why this project is so personal. You can also join the conversation through our twitter stream @0_personal.

If coverage of the financial crisis seems to you to be missing something important, we hope this blog will fill the void. Enjoy.

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